What is ‘Simple Interest’?
Simple interest is a quick method of calculating the interest charge on a loan. Simple interest is determined by multiplying the daily interest rate by the principal by the number of days that elapse between payments.
Simple Interest formula:
Simple interest formula is given by:
Simple Interest = (P x T x R)/100
Where,
P is the principle amount
T is the time and
R is the rate
Examples :
EXAMPLE1:
Input : P = 10000
R = 5
T = 5
Output :2500
We need to find simple interest on
Rs. 10,000 at the rate of 5% for 5
units of time.
EXAMPLE2:
Input : P = 3000
R = 7
T = 1
Output :210
The formula to calculate the simple interest is: simple_interest = (P * T * R) / 100 where P is principal amount, T is time & R is rate of interest.
C++
// CPP program to find simple interest for// given principal amount, time and rate of// interest.#include<iostream>using namespace std;int main(){ // We can change values here for // different inputs float P = 1, R = 1, T = 1; /* Calculate simple interest */ float SI = (P * T * R) / 100; /* Print the resultant value of SI */ cout << "Simple Interest = " << SI; return 0;} |
Java
// A Simple JAVA program to compute // simple interest for given principal// amount, time and rate of interest.import java.io.*; class GFG{ public static void main(String args[]) { // We can change values here for // different inputs float P = 1, R = 1, T = 1; /* Calculate simple interest */ float SI = (P * T * R) / 100; System.out.println("Simple interest = "+ SI); }} // This code is contributed by Anant Agarwal. |
Python3
# Python3 program to find simple interest# for given principal amount, time and# rate of interest. # We can change values here for# different inputsP = 1 R = 1 T = 1 # Calculates simple interest SI = (P * R * T) / 100 # Print the resultant value of SI print("simple interest is", SI) # This code is contributed by Azkia Anam. |
C#
// A Simple C# program to compute // simple interest for given principal// amount, time and rate of interest.using System; class GFG { // Driver Code public static void Main() { // We can change values here for // different inputs float P = 1, R = 1, T = 1; // Calculate simple interest float SI = (P * T * R) / 100; Console.Write("Simple interest = "+ SI); }} // This code is contributed by Nitin Mittal. |
PHP
<?php// PHP program to find simple interest// for given principal amount, time // and rate of interest. // We can change values here for// different inputs$P = 1;$R = 1;$T = 1; /* Calculate simple interest */$SI = ($P * $T * $R) / 100; /* Print the resultant value of SI */echo "Simple Interest = ". $SI; // This code is contributed by Sam007?> |
Output :
Simple Interest : 0.01
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